1,074,683 Shares in VNET Group, Inc. (NASDAQ:VNET) Bought by Man Group plc

Man Group plc bought a new position in shares of VNET Group, Inc. (NASDAQ:VNET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,074,683 shares of the information technology services provider’s stock, valued at approximately $5,094,000. Man Group plc owned about 0.42% of VNET Group at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC raised its position in VNET Group by 229.3% during the fourth quarter. Barclays PLC now owns 7,093 shares of the information technology services provider’s stock worth $34,000 after acquiring an additional 4,939 shares in the last quarter. Headlands Technologies LLC raised its position in VNET Group by 5.7% during the fourth quarter. Headlands Technologies LLC now owns 144,499 shares of the information technology services provider’s stock worth $685,000 after acquiring an additional 7,737 shares in the last quarter. Catalina Capital Group LLC bought a new stake in VNET Group during the fourth quarter worth $54,000. Blue Trust Inc. raised its position in VNET Group by 29.1% during the fourth quarter. Blue Trust Inc. now owns 54,311 shares of the information technology services provider’s stock worth $257,000 after acquiring an additional 12,237 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in VNET Group during the fourth quarter worth $66,000. Institutional investors and hedge funds own 72.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com lowered shares of VNET Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Citigroup upped their price target on shares of VNET Group from $16.10 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Nomura Securities raised shares of VNET Group to a “strong-buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, VNET Group currently has an average rating of “Buy” and a consensus price target of $9.30.

VNET Group Price Performance

Shares of VNET opened at $6.22 on Wednesday. The firm has a market capitalization of $1.67 billion, a PE ratio of -2.80, a PEG ratio of 1.01 and a beta of 0.14. The company’s 50-day moving average is $6.86 and its 200-day moving average is $6.73. VNET Group, Inc. has a fifty-two week low of $1.71 and a fifty-two week high of $16.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.83 and a quick ratio of 0.83.

VNET Group (NASDAQ:VNET) last issued its quarterly earnings data on Wednesday, March 12th. The information technology services provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). VNET Group had a negative net margin of 28.54% and a negative return on equity of 5.68%. The company had revenue of $307.75 million during the quarter, compared to the consensus estimate of $284.88 million. Equities analysts forecast that VNET Group, Inc. will post -0.06 EPS for the current year.

VNET Group Company Profile

VNET Group, Inc, an investment holding company, provides hosting and related services in China. It offers managed hosting services consisting of managed retail services, such as colocation services that dedicate data center space to house customers' servers and networking equipment, as well as allow customers to lease partial or entire cabinets for their servers; interconnectivity services that allow customers to connect their servers; value-added services, including hybrid IT, bare metal, firewall, server load balancing, data backup and recovery, data center management, server management, and backup server services; cloud services that allow customers to run applications over the internet using IT infrastructure; and VPN Services that extend customers' private networks by setting up connections through the public internet.